What Martin Lewis Wants You to Know About Lasting Power of Attorney

29th May 2025

Updated: Thursday 26th February 2026

Martin Lewis on Lasting Power of Attorney captures a message that has become increasingly clear in recent years. Martin Lewis has repeatedly urged people across the UK to treat a lasting power of attorney as an essential part of financial planning, not an optional extra.

He has even said it can be more important than a will.

That often surprises people. But when you understand how a lasting power of attorney works, the reasoning makes sense.

Why does Martin Lewis say an LPA matters so much?

A will only applies after you die.

A lasting power of attorney protects you while you are still alive.

If you lose mental capacity because of a stroke, accident or serious illness, nobody automatically has the legal right to manage your bank account, deal with your pension or make decisions about your care.

Not even your spouse.

Without a registered LPA, your family must apply to the Court of Protection to become a deputy. This can take months and involves ongoing supervision and fees.

Martin Lewis highlights this gap often. His point is simple. The real financial risk is not only what happens after death, but what happens if you cannot act for yourself.

What is a lasting power of attorney in the UK?

A lasting power of attorney is a legal document that allows you, known as the donor, to appoint someone you trust, known as your attorney, to make decisions on your behalf if you lose mental capacity.

There are two types of LPA in England and Wales.

A Property and Financial Affairs LPA covers money, bills, savings, investments and property.

A Health and Welfare LPA covers care decisions, medical treatment and where you live.

Both must be registered with the Office of the Public Guardian before they can be used.

Is an LPA only for older people?

No.

This is one of the biggest myths.

Martin Lewis has spoken openly about setting up his own LPA at a relatively young age. His message is clear. Loss of capacity is not just about dementia. It can happen at any stage of life.

Accidents happen.

Serious illness can strike unexpectedly.

Planning early means you decide who is in charge if something goes wrong.

What happens if you do not have a power of attorney?

If you lose mental capacity without an LPA in place, banks can freeze accounts.

Mortgage payments and household bills can become difficult to manage.

Care providers may not accept instructions from family members.

Your loved ones may have to apply for a deputyship order through the Court of Protection. This is slower and usually more expensive than setting up an LPA in advance.

Many families only discover this when they are already dealing with stress and uncertainty.

Is setting up a lasting power of attorney complicated?

It does not have to be.

The forms must be completed carefully and signed in the correct order. They must then be registered with the Office of the Public Guardian.

However, the process is more straightforward than many people expect.

Online services such as Power of Attorney Online guide you through each section and help reduce the risk of common errors that can lead to rejection.

Why should an LPA be part of financial planning?

Financial planning is about protecting what you have built.

A lasting power of attorney protects your ability to control it.

It ensures someone you trust can step in quickly and legally if you cannot manage your own affairs.

That is why Martin Lewis continues to raise it alongside savings, pensions and wills.

If you have been meaning to sort it out, this is your reminder.

It is not about fearing the worst.

It is about making a sensible, informed decision while you still can.